Coal funding bodes well for industry: QRC

The Queensland Resources Council (QRC) says the announcement of significant funding for two major coal projects in the north/central Queensland region is a reassuring sign for the industry.

BHP Billiton has announced it will fast-track the feasibility studies for the proposed Caval Ridge mine in the central highlands and the expansion of the Hay Point Terminal south of Mackay.

Michael Roche from the QRC says the start of 2010 is a stark contrast to 12 months ago.

"There's no doubt that when the world's largest coking coal producer is prepared to commit more than half a billion dollars even in advance of a final go ahead, that's a very strong sign of a company that has faith in the future of the industry," he said.

"I think the whole Bowen Basin region can take heart from this announcement."